TDP demands CBI probe into Jaganmohan Reddy’s assets

HYDERABAD - Andhra Pradesh’s opposition Telugu Desam Party (TDP) Tuesday demanded a Central Bureau of Investigation (CBI) probe into the assets of Congress MP Y.S. Jaganmohan Reddy.

TDP leader and former finance minister Y. Ramakrishnudu said the payment of Rs.84 crore as advance tax by former chief minister Y.S. Rajasekhara Reddy’s son in the first six months of the current financial year had vindicated their allegations that he had illegally amassed the wealth.

The TDP leader claimed that Rs.84-crore advance tax was a 1,100 percent jump over what Jagan had paid during the same period last year. “Even the world’s richest person, Bill Gates’ income has not grown by 1,100 percent. Mr Jaganmohan Reddy should clarify how he got this wealth,” said Ramakrishnudu.

The advance tax reportedly paid by Jaganmohan Reddy, the MP from Kadapa, indicates his annual income to be above Rs.500 crore. He had paid Rs.2.92 lakh tax for 2008-09, and Rs.6.72 crore for 2009-10.

TDP chief and former Chief Minister N. Chandrababu Naidu alleged that Rajasekhara Reddy’s family looted public assets and turned them into “family assets”.

YSR, as Rajasekhara Reddy was popularly known, died in a helicopter crash in September last year.

“YSR had made amassing wealth as his principle during his rule. The corruption which took place during his rule was never seen anywhere in the world,” said Naidu, adding Jaganmohan Reddy owed an explanation to people as to how he made so much money.

Jaganmohan Reddy’s rivals within the ruling Congress party also questioned him as to how he amassed the wealth. Senior leader P. Goverdhan Reddy said Jagan should make public his sources of income.

He demanded that the income tax department should take a serious note of Jagan’s assets and the central government should order a comprehensive probe.

Goverdhan Reddy said Jagan’s defiance of the party was due to his wealth running into thousands of crores of rupees.

The young MP, who has interests in mining and power generation in several states, is currently visiting Prakasam district - in defiance of the party’s central leadership - to console families of those who died of shock following his father’s death.